NEWPORT BEACH, Calif. — Motivated by what credit unioninvestment program managers are doing in California, six executivesare hoping to replicate a networking group model to bringcolleagues together in their respective states.

A few years ago, a group of investment executives at severalCalifornia credit unions came together in informal meetings eachquarter to discuss timely issues in the investment andbroker-dealer space. The gatherings spawned the creation of theCredit Union Professional Managers Association (CU Times, May 28,2008). The group of 30 now meet several times a year and recentlyheld its second annual meeting.

During a May conference call, six credit union executives agreedto launch PMA groups in their respective regions, said Pete Snyder,vice chairman of NACUSO's board of directors. NACUSO is puttingtogether a section on its Web site (www.nacuso.org) that containsresources for those interested in starting their own groups.

The six individuals who are looking to kick off their own PMAgroups are David Wood, vice president of investment services, ENTCU; Stephanie Sherrodd, vice president, diversified services, TexasDow Employees FCU; Scott Jenner, president/CEO, investment servicesdivision, Addison Avenue FCU; Michael Prior, president/CEO ofCredit Union Financial Network; Susan Zahn, business developmentmanager New England FCU; and Carolyn Cereghino, director ofinvestment services, Boeing FCU.

Snyder said over the next few months, the six executives willsend out feelers to gauge interest and will come together mostlikely in October or September for a progress report. Zahn of $618million New England FCU, said she sees the groups as a way toaccelerate learning.

“There are many different ways to organize your investmentprogram, be it a broker-dealer, dual employee or managed employee,”Zahn said. “Regardless of the model, we're all trying to do thesame thing. There are many experiences and great ideas we canshare.”

Zahn said with the myriad of dynamics having an impact on creditunions' collaboration can only be an asset to help move theindustry forward.

“We need [fee income] to balance out interest cycles and thenyou have the baby boomer demographics and the aging of our members.These are times when we can benefit from collaboration,” Zahnsaid.

Sandra deChastain, vice president of investments at $7.7 billionSchoolsFirst FCU, and one of the early founders of the CUPMA groupin California, is amazed at the interest coming in from across thecountry.

“The potential PMAs that are interested are all great leadersand I am sure they will guide their groups and create great synergyin their areas,” deChastain said. “Our intent with the PMA model isto use [what] the larger or more experienced program managers shareand help others that may just be starting their investment programor learning how to take the program to the next level.”

Wood of $2.3 billion ENT, will be “a wonderful resource and adynamic person” to spark interest in the Colorado area, deChastainsaid. Likewise, Jenner from $2 billion Addison Avenue FCU, “isdefinitely a leader and also well connected.” Meanwhile, a group inNorthern California is also gearing up, deChastain said, addingshe's happy to see the effort underway given the many larger creditunions concentrated in that area of the state.

For those interested in starting their own groups, contactSnyder at 916-749-7391 or [email protected].

–[email protected]